IT update

http://nav-ta.blogsp.../it-update.html

"sideline money"... Gee I've heard that since SPX 1500...

Hi NAV "Now everything is back in harmony - hourly, daily and weekly are all down. So to keep it simple, the next bounce on the hourly is a short." Although there are many degrees to signals or indicators that are either up or down.. mine are certainly not all down. Just a heads up buddy.

Hi NAV
"Now everything is back in harmony - hourly, daily and weekly are all down. So to keep it simple, the next bounce on the hourly is a short."

Although there are many degrees to signals or indicators that are either up or down.. mine are certainly not all down. Just a heads up buddy.

Mr Dev,

You see the ugly kissback on the daily MACD on SPX. Be careful if you are getting horny. Good luck !

Edited by NAV, 30 January 2009 - 11:59 PM.

but slow stos are oversold and there is now an acceleration line at the neckline of a possible inv Head and Shoulder.. and when we get two to three technical set ups,.. we usually see an attempt to make something happen towards them.. whether its a success or failure. The big money that had been short going into the last two days of declines has taken its profit. Now if they flip it long and start buying,..we're only two to three days from a rally in the face of some positive setups.

Edited by Mr Dev, 31 January 2009 - 12:39 AM.

I agree, NAV. Let others fight it out with the Fibonaccis and Bradleys and moon phases, and "oversolds and overboughts", measured moves, and support, resistance, and bollinger bands, and a thousand other trading indicators. All I've ever aspired to do is to position myself in sync with the market trend. Wind at the back, trading ain't really that difficult.

I agree, NAV. Let others fight it out with the Fibonaccis and Bradleys and moon phases, and "oversolds and overboughts", measured moves, and support, resistance, and bollinger bands, and a thousand other trading indicators. All I've ever aspired to do is to position myself in sync with the market trend. Wind at the back, trading ain't really that difficult.

It sure hasn't been hard this month. Spent the month with a downside bias and loaded up shorts on pops that fizzled and unloaded on declines In all time frames - i.e. short on petered out plus 1000 TICKS which I'd cash out minutes later, and also stacked up shorts on larger rallies into 60 min resistance zones which I'd cash out on the following day's ramps downs. And some in between.

My guess is that there'll be more of the same in February, although I'm not so sure we don't have another fake out to the upside brewing in here. THere was an odd divergence set up yesterday with the DOW back down but the SPX and COMP not. Still looking at this. You can see the charts I've put up so far on my blog:

mm

ok this is going to be a dumb question, but forgive me asking...Nav, you suggest shorting on the next hourly bar..does that mean when the market opens at 930 we wait till 1030 and short? thanks for taking the time to post and answer...as you can see not much of a technician

I do not see "harmony" in the stuff I watch - my daily mo screens are down, 60 up.

ok this is going to be a dumb question, but forgive me asking...Nav, you suggest shorting on the next hourly bar..does that mean when the market opens at 930 we wait till 1030 and short? thanks for taking the time to post and answer...as you can see not much of a technician

Very simple.

1) If you are aggressive, wait for a hourly overbought and short it, as long as we hold below the Fed day highs.

2) If you are conservative, wait for a rejection on hourly - either a rejection at resistance or a momentum downthrust.